The issuer identification number (IIN) on a payment card signifies which financial institution issued the card and oversees it. Found on credit, debit, and other types of payment cards globally, IINs are sometimes called bank identification numbers (BINs).
Key Insights
- IINs pinpoint the financial institution that issued a particular credit or debit card and indicate the card processing network it belongs to (e.g., Visa, Mastercard).
- The first few digits of the card number represent the IIN.
- IINs, usually six or eight digits long, are followed by unique digits assigned to the cardholder and a final ‘check digit’ for validating the card number.
- While IINs determine the issuing institution, the complete card number may include up to 19 digits.
The Essentials of Issuer Identification Numbers
Card numbers often stretch between 15 and 19 digits. The first part of this sequence involves the IIN, comprising the initial six to eight digits.
The major industry identifier (MII) number is the first digit, denoting the industry linked to the card number per standards set by the ISO/IEC 7812. Typical ranges include:
3,4,5,6: Banking and financial sectors.1,2: Airline industry.7: Oil industry.
This is why cards from Visa, Mastercard, Discover, and American Express start with different numbers indicative of their networks. Here’s a quick guide:
- Visa cards begin with
4. - Mastercards start with
2or5. - Discover cards use
6. - American Express cards feature
3.
Beyond the first digit, the subsequent five to seven digits specify the issuing bank (newer IINs tend to be eight digits due to rising card usage demands). For instance:
- Visa by Chase: Differs from Venture cards by Capital One but starts with
4.
Following the IIN, the rest represent a cardholder’s unique identifiers, ending with the check digit, verified by the Luhn Algorithm.
The complete number chain detailing the network, issuer, and cardholder is frequently dubbed the primary account number (PAN).
A Quadrillion Combinations
With typical card numbers allowing for a mind-blowing one quadrillion combinations (1,000 trillion), encoded genesis plays a vital role in secure transactions.
Why Issuer Identification Numbers Matter
IINs integrate seamlessly with account numbers to allow instantaneous verification ensuring authenticity, validity, and transaction coverage.
Credit Card Numbers vs. Account Numbers
Differences can arise between the card number printed and your specific account number at the issuing institution. Upon misplacement or theft, new card numbers are issued without altering your account credentials.
What’s a CVV Code?
A CVV (Card Verification Value) code is a security feature, usually three to four digits, printed on your card. It’s separated from the card number to safeguard unauthorized access by providing an extra verification hurdle.
Can a Store Print Your Full Credit Card Number on the Receipt?
Under the Fair and Accurate Credit Transaction Act (FACTA), merchants must truncate your card number on digital receipts, showing at most the final five digits. This regulation ensures added protection against identity predicates.
Understanding Virtual Credit Card Numbers
Virtual credit card numbers offer temporary but account-linked substitutes for online transactions, boosting security by keeping your primary card details concealed.
Authorized Users and Separate Account Numbers
Authorized users might receive cards featuring either distinct or identical numbers depending on issuer policies – the primary account holder remains liable for any transaction made by an authorized user.
Conclusion
Issuer identification numbers (IINs) aid in card validation and seamless financial transactions by specifying the issuing entity and processing network. Comprehending these foundations enhances awareness around card security and financial management.
Related Terms: Bank Identification Number, Major Industry Identifier, CVV Code, Virtual Credit Card Number, Authorized User.
References
- International Organization for Standardization. “ISO/IEC DIS 7812-1(en): Identification cards – Identification of Issuers — Part 1: Numbering System”.
- BIN Codes. “BIN List & Range”.
- American Express. “What Is a Credit Card Number?”
- Experian. “How Many Numbers Are on a Credit Card?”
- Federal Trade Commission. “Slip Showing? Federal Law Requires All Businesses to Truncate Credit Card Information on Receipts”.
